Along with this blog, we maintain several other blogs, some concentrating on the condo market as well as other niche markets. If you are looking for the latest Las Vegas Condo News or Las Vegas Homes news, check out either of these new blogs. Read about Ryland homes latest sale or the announcement by CityCenter dropping condos (posted on January 7th).
If you have been following the media coverage of the Las Vegas real estate market, you've may have noticed something strange....positive media coverage. That's right, the media has gotten off the gloom and doom train. For the second straight news cycle, print media as well as some television have been reporting positive news about the market. Two different studies by real estate tracking companies have been released in the last two weeks (one was in the Las Vegas Review Journal earlier this month, other at Forbes.com), stating that sales are up (the local REALTOR association can back that up with hard numbers) and prices are way, way down. Those are definite facts. I can't remember when you could buy a nice new two bedroom townhouse for under $60k. But its not just the entry level of the market seeing huge price drops. One of our clients is closing on a luxury home that listed for just under $1 million last year (and worth every penny). Full of custom features, built-ins, pool, park like landscaping and a huge lot, the property sold for just under $500 and its not a bank owned property. The falling prices are directly tied to the number of bank owned properties on the market. If you're looking for a new home, call us at 702-493-8033. Thanks for stopping by. -cr
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